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Jan 27, 2016 7:45 EDT

Middle East Syndicated Loan Volume Highest on Record in 2015

iCrowdNewswire - Jan 27, 2016


Dealogic | Loan StatShot


Middle East Syndicated Loan Volume Highest on Record in 2015

Thursday, January 21, 2016

By Claire Harman


$130.9bn Volume surpasses previous record in 2007

The Middle East syndicated loan market was the biggest on record in 2015, with a high of $130.9bn via 136 deals. Volume surpassed the previous record of $127.3bn (156 deals) set in 2007, and activity was the second highest on record behind 2007. 2008 completes the three biggest years on record for the Middle East, with $85.6bn (126 deals) Middle East loans accounted for a 10% share of EMEA loan volume in 2015 ($1.34tr), a record high for the region and up from an average 5% share over the previous five years


GCC Volume second highest on record in 2015

Borrowing from Gulf Cooperation Council countries in 2015 ($85.2bn via 121 deals) was the second highest on record behind 2007, although volume was down 31% from the record high ($123.1bn)

Israel took a 34% share of the Middle East loan market in 2015, with $44.4bn via nine deals. While Saudi Arabia and United Arab Emirates borrowers signed more deals, volume was lower, with $30.1bn (24 deals) and $29.4bn (63 deals), respectively


$27.0bn Largest Middle East loan on record in 2015

The two biggest Middle East syndicated loans on record were signed in 2015. Teva Pharmaceutical Industries signed a $27.0bn facility, to support the $40.5bn pending bid for the generic drug unit of Allergan. This is the biggest loan on record in the region and the M&A deal is the largest fifth largest EMEA acquisition of a US target on record Saudi Aramco signed a $10.0bn facility, the second largest Middle East loan on record


Oman returns to the loan market in 2016

Oman issued a $1.0bn five year loan signed January 17, 2016, for general funding purposes. Oman has not signed a syndicated loan since 2007, and this latest facility is the biggest on record for Oman as a borrower


HSBC led bookrunner ranking in Middle East

HSBC led the bookrunner ranking for Middle East syndicated loans in 2015, with a 10.1% market share ($8.5bn via 14 deals). Sumitomo Mitsui Financial Group and Citi followed, each with a 9.0% share


Contact Information:

Claire Harman
[email protected]

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